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Wednesday, 15 November 17
MARKET INSIGHT - LINOS KOGEVINAS
 For another week, oil seems to be the most volatile and interesting commodity to watch. In this segment we’ll look at some of the major factors affecting the commodity price as a whole.
Brent price closed yesterday at $62.90 down from 64.65 last week, which was the highest level reached since June 2015.
Efforts by OPEC and Russia to cut output by the on-going policy, which is already expected to extend throughout the first quarter of next year as well, have curbed excess supply in an effort to prop up the commodity price and seek and end to the global supply glut which has sent prices plummeting over the past two years.
OPEC has also continually revised its global demand outlook upward since July, noting an expected increase to 33.42m barrels next year. OPEC and other producers will meet again on the 30th of November in Vienna and are expected to agree to a further extension of production possibly for another 9 months up until the end of 2018.
The recent wave of arrests in Saudi Arabia has been touted as a corruption purge. However, seeing as this is also an empowering move for Mohammed bin Salman who has been an outspoken supporter of OPEC’s production cuts past 2018, it further increases the chance of these cuts being extended further.
However, these efforts are being undermined by a 12-month continual increase in US shale oil which has been triggered by the increased price. US Shale production is set to further increase in December by approx. 80,000 barrels, with the US rig number increasing quickly during the past months. Reports have been actually confirming another nine rigs added during the past days, which brings up the total number up to 738 rigs, an increase in excess of 60% compared to twelve months back.
While global stocks are falling for the first time since 2013, we won’t be surprised to see the increase in US and other supplies halting this decline within next year and together also halt the upward path the price of the commodity has followed in the past months.
One of the wild cards to keep an eye on is Venezuela which has been facing various issues in repaying its massive debts. Following a $1.1bn payment on state-oil company PDVSA’s issued bond last week, President Nicolas Maduro announced that this would be the final time it paid its creditors fully and that his intent is to seek a restructuring regarding future debt payments, which is putting Venezuela’s ability to pay its debts altogether into question.
Formally defaulting, could quite conceivably put further stress on the country’s oil output and therefore on the commodity price. Venezuela’s oil production has already been under considerable pressure in the past year, with October marking its lowest production in 28 years, at 1,863m barrels per day.
The aforementioned issues place oil prices in a tenuous, unstable situation. With caution regarding the rising US production, which could possibly result in a price correction, expectations for next year should perhaps be less bullish than what they currently are.
By Linos Kogevinas
Commercial Executive - Cotzias Intermodal Shipping
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 09 October 17
INDIA'S COAL IMPORTS UP 10% IN SEPT AS POWER PLANTS FACE FUEL SHORTAGE - PTI
Coal imports rose by 9.5 per cent to 18.33 million tonnes (MT) in September, after having registered year-on-year decline for five months in a row, ...
Friday, 06 October 17
U.S. WEEKLY COAL OUTPUT HAS REBOUNDED AFTER DECLINING 5 WEEKS IN A ROW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
Wednesday, 04 October 17
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
During the past couple of months the dry bulk market has displayed particularly strong momentum and we have been witnessing steady appetite and act ...
Tuesday, 03 October 17
VIETNAM'S COAL-FIRED THERMAL POWER DEPENDENT ON CHINA - VIETNAMNET BRIDGE
A report from the Green Innovation and Development Centre (GreenID) showed that, as of the end of last year, of 27 coal-fired thermopower plants, 1 ...
Tuesday, 03 October 17
RIO TINTO COMPLETES FIRST FULLY AUTONOMOUS RAIL JOURNEY IN WESTERN AUSTRALIA
Rio Tinto has successfully completed the first fully autonomous rail journey at its iron ore operations in the Pilbara region of Western Australia ...
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Showing 1921 to 1925 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
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